Peppered with criticism and questions about his expensive watch, Karnataka Chief Minister Siddaramaiah has decided to declare the diamond studded accessory as a state asset.

The Hublot watch valued at around ₹70 lakh, had come under the scanner earlier this month when Janata Dal (Secular) leader and former CM HD Kumaraswamy compared Siddaramaiah's accessory to his 'so-called socialist credentials'.

If opposition leaders are dreaming I'd lose my job for wearing an expensive watch, it will remain their dream.

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But now, according to The Times of India, Siddaramaiah has decided to take on the opposition head-on and declare the expensive bauble's worth openly and put an end to the controversy.

"If opposition leaders are dreaming I'd lose my job for wearing an expensive watch, it will remain their dream," he told reporters on Sunday.

According to NDTV, BJP in Karnataka has approached the Enforcement Directorate on the issue, and Prahlad Joshi, the state party chief, has hinted that he may raise the issue in Parliament.